SYDNEY: Rio Tinto has announced a strategic partnership with Founders Factory, a leading global venture studio. This collaboration is set to fuel the development and commercialization of pioneering technologies, marking a significant commitment by Rio Tinto to enhance the mining industry’s efficiency and sustainability. Over the next three years, Rio Tinto will channel A$14.4 million…
Tag: Rio tinto
Rio Tinto has appointed Bold Baatar as Chief Commercial Officer
SYDNEY, AUSTRALIA: Rio Tinto has appointed Bold Baatar to the role of Chief Commercial Officer, to lead the Group’s commercial and business development activities globally. Bold Baatar will succeed Alf Barrios as Chief Commercial Officer, following his decision to retire from Rio Tinto. Bold, who is currently Chief Executive Copper, will take on accountability for…
Rio Tinto signs Australia’s biggest renewable power deal
LONDON, UK: Rio Tinto has signed Australia’s largest renewable power purchase agreement (PPA) to date to supply its Gladstone operations in Queensland, agreeing to buy the majority of electricity from Windlab’s planned 1.4GW Bungaban wind energy project. The agreement, which follows the company announcement last month of a PPA for the Upper Calliope solar farm in Queensland,…
Rio Tinto to drive development of Australia’s largest solar farm at Gladstone
MELBOURNE, AUSTRALIA: Rio Tinto will drive development of Australia’s largest solar power project near Gladstone, after agreeing to buy all electricity from the 1.1GW Upper Calliope Solar Farm to provide renewable power to Rio Tinto’s Gladstone operations. The agreement will bring more renewable power into one of Australia’s most important industrial hubs and marks another…
Rio Tinto reaches $28 million settlement with Securities and Exchange Commission
LONDON: Rio Tinto has settled a lawsuit with the SEC over its disclosure of the value of Rio Tinto Coal Mozambique (RTCM) in its 2012 financial statements. The SEC had accused Rio Tinto of violating its accounting and reporting rules related to the impairment of RTCM, which Rio Tinto bought in 2011 and sold in…
Rio Tinto grows production and earnings, declares 177 US cents dividend
LONDON, UK: Rio Tinto, the global mining giant, has announced strong half-year results, with a 5% increase in production volumes and a 2% rise in underlying earnings. The company also declared an interim dividend of 177 US cents per share, in line with its 50% payout policy. The company said it generated net cash from…
Rio Tinto invests acquires initial 15% stake in Sovereign Metals Limited
LONDON, UK: Rio Tinto (ASX: RIO) has agreed to invest A$40.4 million in Sovereign Metals Limited (ASX: SVM) to acquire an initial 15% stake in the company and support the development of its Kasiya Rutile-Graphite Project in Malawi. The investment will enable Sovereign to advance the Kasiya project, which hosts a large-scale, high-grade, low-cost and…
Rio Tinto boosts copper production at Kennecott mine in Utah
LONDON, UK: Rio Tinto, a global mining company, has announced that it is investing in its Kennecott copper mine near Salt Lake City, Utah, to increase its production from underground mining and improve its processing facilities. The company said on Tuesday that it has approved $498 million of funding to develop an area known as…
Rio Tinto to acquire Rincon Mining lithium project for $825mn
SYDNEY, AUSTRALIA: Rio Tinto has agreed to acquire Rincon Mining Pty Limited, which owns the Salar del Rincón Project in Argentina; and Lithium Extraction Technologies (Australia) Pty which holds certain intellectual property which may be applied in conjunction with lithium projects. Rio Tinto has entered into a binding agreement to acquire the Rincon lithium project…
Austin Engineering wins 5-year contract with Rio Tinto
SYDNEY, AUSTRALIA: Austin Engineering Limited (ASX: ANG) signed a five-year mining products and service supply contract with Rio Tinto Services Ltd (Rio Tinto). Austin Engineering is a global leader in mining equipment, design and manufacture. The contract is for the supply of dump bodies, lightweight trays for ore trucks, heavy machinery buckets, water bodies and…
Rio Tinto, BHP and Fortescue collaborate to create safer workplaces
MELBOURNE, AUSTRALIA: Rio Tinto, BHP and Fortescue Metals Group have agreed to partner and fund programs as part of a continued commitment towards creating safer workplaces that are free from sexual harassment, bullying and racism. Through this partnership, Rio Tinto, BHP and Fortescue will fund and contribute to the design, build and implementation of new…
Santos enters new gas supply agreement with Rio Tinto
SYDNEY: Santos, Western Australia’s biggest domestic gas producer, signed a new gas supply agreement with global miner, Rio Tinto. Under the agreement, Santos will supply up to 15 PJs of natural gas to Rio Tintocommencing in late 2021. Santos Managing Director and Chief Executive Officer Kevin Gallagher said Rio has been a long-term buyer of…